Asian tanker rates may extend declines Asian hiring rates for oil-product tankers, near their lowest in three months, may this week extend declines as more vessels compete for the limited amount of cargo available after the Chinese New Year holidays.
Proposed UK tax change could hurt maritime sector The Baltic Exchange, a London-based provider of shipping prices, said UK government proposals to alter foreigners' tax status may damage the country's '1.5 billion (S$4.1 billion) shipping-services industry.
Change in federal rule may threaten US cruise ports Portland's gleaming, US$21 million terminal for cruise ships and ferries will open this spring. Another US$7 million berth built to accommodate the world's largest cruise ships will follow next year.
Strait Talk
A poster that just screams for attention THE mess decks and alleyways of merchant ships these days tend to display an awful lot of posters, mainly about safety.
Asian tanker rates may extend declines Asian hiring rates for oil-product tankers, near their lowest in three months, may this week extend declines as more vessels compete for the limited amount of cargo available after the Chinese New Year holidays.
Proposed UK tax change could hurt maritime sector The Baltic Exchange, a London-based provider of shipping prices, said UK government proposals to alter foreigners' tax status may damage the country's '1.5 billion (S$4.1 billion) shipping-services industry.
Change in federal rule may threaten US cruise ports Portland's gleaming, US$21 million terminal for cruise ships and ferries will open this spring. Another US$7 million berth built to accommodate the world's largest cruise ships will follow next year.
Strait Talk
A poster that just screams for attention THE mess decks and alleyways of merchant ships these days tend to display an awful lot of posters, mainly about safety.
LNG tanker under tow off Cape Cod A rescue tug has successfully connected with the fully laden LNG tanker Catalunya Spirit and stopped the vessel's southeast drift east of Cape Cod
NAT predicts continuing volatility NORDIC American Tanker Shipping is predicting continued high volatily in the tanker markets as the market balances high deliveries and deletions
PDVSA sells out to private equity VENEZUELAN oil giant PDVSA has sold its Bahamas Oil Refining Co (BORCO) to private equity firm First Reserve Corp
Hawaii ferry woes worsen HAWAII Superferry's Alakai will be pulled from service tomorrow for a two-week drydocking, yet another setback for the islands' shrinking passenger ship sector
Steel guru takes over Russian fleet THE North-Western Shipping and Volga Shipping fleets have been taken over by Vladimir Lisin, owner of one of Russia's largest steelmakers
LRF takes full control of AIS Live LLOYD'S Register-Fairplay has bought out its partner in AIS Live for €4.5M, giving it full ownership of the online vessel tracking system
Maersk Line consolidating North American sales and customer service Largest box carrier plans to consolidate its North American sales and customer service from six regional offices into five.
Owner beats estimates US-listed bulker and tanker player OceanFreight tops analysts' estimates as profits hit $6.4m in its first-ever fourth-quarter report.
Pemex suffers court loss Mexico's supreme court order will have Petroleos Mexicanos (Pemex) offering cabotage charters to Mexican carriers.
Halter scores PSV order US shipyard will build two platform supply vessels for L&M Botruc Rental.
'Definitely disappointing' Analyst ties lower-than- anticipated results at Nordic American Tanker Shipping to a weak spot rate environment in the fourth quarter.
D'Amico net jumps Milan-listed products tanker owner sees profits increase by 35% to $75.1m.
Aframaxes drain earnings Analyst reduces fourth-quarter estimates for Teekay and OSG on soft aframax rates, but improvements should come this quarter.
Slimline tonic for Precious Thai shipowner sees full-year profits soar following departure of 10 elderly ships during 2007.
Nordic chief defends results After profits miss expectations, Nordic American Tanker Shipping chief executive Herbjorn Hansson expresses optimism for 2008.
Catalunya controlled Fully-loaded Teekay LNG vessel which was drifting off Cape Cod now under tow to offshore location.
Louis draws fresh fire Owner of sunken Sea Diamond will have its assets impounded if it fails to raise the wreck and mop up pollution, Greece says.
Japan detains 20 Two general cargoships held over oily water separator deficiencies in January.
CSH orders six China Shipping Group company splashes nearly $240m on 33,000-dwt bulkers.
Pittas pays up Nasdaq-listed Euroseas moves to bolster long-term stability after announcing sixth straight increase in quarterly dividend.
Mercator hits high notes Third quarter profits take-off at newly-listed shipowner with returns 494% up on last year.
Norshukon tries again Consortium re-tenders for companies to run ro-ro ferry service from Norway to Scotland.
Nordic back in black Herbjorn Hansson-led tanker player stamps out third quarter losses but fourth quarter profits are down on last year.
NGV Tech to scoop three Malaysian shipbuilder close to bagging $154.15m offshore order with dredging work set to open the floodgates for chemical tanker contracts.
Riverdance gets tap treatment Salvors begin "hot tapping" of fuel oil from Clipper ro-ro grounded off UK coast.
Small victory for SembCorp Singapore yard wins right to submit evidence to combat claim for forex losses by BNP Paribas.
Japan pays for box ports Bulgaria to build two terminals with Japan Bank for International Cooperation cash.
LNG ship drifts off US USCG cutter and tugs rush to secure fully-laden Teekay gas ship which lost propulsion and drifted off Cape Cod.
FOP flops in fourth Oslo-listed company slips into the red following unemployment of two of its five FPSO units at the close of the year.
Jysk wants Russians Danish steel trader applies to buy 80% holding in NWS and Volgaflot parent.
Solid Golden year Golden Ocean unearths a nugget of a year as high rates and tonne-miles send profit and sales soaring.
Aloha and goodbye NCL cuts ship from Hawaii fleet to balance the books despite promise of reduced competition in the region.
MPC munches more HCI German boxship fund makes takeover move for rival, envisioning combined fleet of 488 ships and assets of EUR 30bn.
Bore fixes ro-ros UK's Mann Lines to charter Finnish shipowner's German newbuildings for up to 10 years.
Donbas plans new yard Ukrainian group eyeing island site for companion facility to Poland's Gdansk Shipyard.
Bosporus closed Strong currents prevent eight tankers from transiting vital Istanbul strait on Tuesday.
Neste considers shipping future Finnish oil group could sell tanker fleet, but may opt to retain operational control.
Eight cleared in QM2 disaster Eight people charged with manslaughter over gangway collapse are cleared by French court.
SCI bulker damaged in Oz Handysize bulker sustains damage after mooring lines broke in Dalrymple Bay Coal Terminal.
NOL 2007 profits up 44% Cost controls plus growth in container volumes help to boost results at Singapore liner operator.
HHI inks VLCCs Hyundai Heavy Industries says it has secured fresh orders for very large crude carrier newbuildings.
K Line joins CRS Japanese shipowner joins Hapag Lloyd and Wan Hai service between China and the Middle East.
Stena and Sonangol to start maritime academy in Angola Swedish tanker owner/operator Stena Bulk will expand its co-operation with the Angolan state-owned oil company Sonangol and the Stena Group and Sonangol will together start a maritime academy in the town of Sumbe, some 270 kilometres south ...
Acquittals in French walkway collapse case A French court has acquitted eight persons accused of sharing responsibility for the accident in November 2003 on the Chantiers de l'Atlantique shipyard when a walkway to the cruise vessel Queen Mary 2 collapsed and 16 persons lost their lives ...
Industry predicts lower fuel use High prices driving efficiency, will lower emissions.
NOL's Q4 profits up almost 300% Asian container shipping giant enjoys strong 2007 result despite pressures from record fuel costs.
Bunker fuel blamed for latest Algeciras pollution Anger that wrecked bulker is still lying off Gibraltar, six months after it sank.
Bunker removal underway on stranded ro-ro MCA reports 'good progress' in salvage effort.
BORCO sold to First Reserve New owner sees 'substantial' potential to expand Freeport's bunkering business.
IMO sulphur discussions welcomed as 'positive' INTERTANKO spokesman says discussions have shifted from 'if' to 'when' in the search for less polluting bunker fuel.
Rotterdam market increasing
Japan: Retroactive bunker price climbs Prices for 180 cst bunker fuel up some $14 pmt in January.
Asian bunker markets firm Weak buying as Asian bunker markets reopen after Lunar New Year holidays.
Top 20 Singapore suppliers unveiled BP takes top spot again as the biggest supplier by volume in 2007 in the world's largest bunkering port.
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